Tag Archives: Tax credits

Tax Credit for Students

    If you or your child or spouse have attended university you should know that there are a the large tax breaks available to students.   Those who struggle with tuition fees and could benefit from the tax breaks the most are often the ones who are unaware of them or unaware of how

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Personal Tax Credits

Personal Tax Credits 2012   Federal Ontario Basic 10,822 9,405 Spouse or eligible dependent – reduced by net income over $0 (federally) – reduced by net income over $798 (provincially) 10,822 7,986 Dependent child under 18 years of age – reduced by the net  income over $0 (federally) – reduced by net income over $798 (provincially)

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Charitable Donation Credit

A federal charitable-donation credit is provided to individuals who contribute to qualifying charitable donations. The federal tax credit granted is 15% for the first $200, plus 29% of any amount in excess of $200, to a limit of 75% of net income. Tax tips: The spouses or partners can combine their tax credits in order

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